Serbian energy giant “Petroleum Industry of Serbia“ (NIS) has officially applied to the Office of Foreign Assets Control (OFAC) of the US Treasury Department with a request for a new extension of its operating license. The current permit, which allows the company to carry out transactions and activities despite the imposed US sanctions, expires on August 28, 2026.
The information about the official request was confirmed by the company's press service to Serbian national television, and the news was disseminated in the international economic exchange by the RBC agency. NIS, in which the majority shareholder is Russia's “Gazprom Neft“, has to periodically obtain special permits from Washington to ensure the continuity of its commercial operations and oil supplies to the Balkans.
So far, the US Treasury Department has repeatedly extended the validity of the company's license. In early August, OFAC granted a deferral of nearly 30 days, the Bulgarian publication Dnevnik recalls. Serbian economic experts hope for a positive decision from the US this time as well, since a possible refusal would threaten the stability of the energy market in the region.